Global Mushroom Market size is assessed at USD 49.9 Billion in 2021 and is expected to expand at a Compound Annual Growth Rate of 9.50% from 2022 to 2028. Mushrooms are considered a superfood due to their nutritional content. Mushroom contains four important nutrients, namely selenium, vitamin D, glutathione, and ergothioneine. These nutrients help reduce oxidative stress and prevent or reduce the risk of chronic diseases like cancer, heart disease, and dementia.
Increasing vegetarian and high protein diet requirements globally is expected to be the key market driver during the forecast period. Moreover, Mushroom provides a rich natural umami flavor, which helps consumers reduce the proportion of salt in Mushroom meals by 30-40%, which is beneficial for health. Mushrooms are rich sources of various bioactive compounds such as polysaccharides, triterpenes, polyphenols, proteins, amino acids, and organic germanium. As a result, extracts are used as an ingredient in the formulation of certain medicinal products or supplements used for hypertension, diabetes, insomnia, immunostimulant, fertility enhancement, etc. stress, high cholesterol, and cancer. Mushrooms are also rich in several important compounds beneficial to the skin such as phenolics, polyphenols, terpenoids, selenium, polysaccharides, and vitamins, which have excellent antioxidant, anti-aging, anti-wrinkle, skin-whitening, and moisturizing effects.
The COVID-19 outbreak has led to the imposition of lockdown measures to prevent the spread of the disease. During the first months of the pandemic, the logistics or freight industry also faced a slowdown due to staffing unavailability and uncertainty caused by the pandemic. This has resulted in significant losses for growers, as Mushrooms have a limited shelf life. Therefore, the shelf life of Mushroom is expected to restrain the market growth during the forecast period.
The Global Mushroom Market is segmented based on product, form, distribution, and application. The product type covers buttons, shiitake, matsutake, oyster, truffles, and other mushrooms. The button type Mushroom dominates the market within the product type segment. They are widely grown worldwide due to their many nutritional benefits and reduced incubation time for their spores. Furthermore, lower costs compared to their counterparts are expected to drive the market during the forecast period. The form segment is classified into fresh form and processed form. Fresh Mushrooms are witnessing a strong increase in demand in recent years due to more and more consumers focused on consuming organic and unprocessed foods for maximum health benefits of the product. Fresh distribution is a challenge for manufacturers or distributors due to their shelf life. However, increasing technological advancement such as the use of improved packaging has limited the challenges associated with the limited shelf life of Mushroom, thus supporting the growth of the segment.
Distribution of Mushroom is done in supermarkets and hypermarkets, convenience stores, grocery stores, online stores, and directly to customers. Mushrooms are mainly distributed in supermarkets and hypermarkets. Distribution via online stores is expected to reach a peak during the forecast period. Consumers around the world are increasingly preferring online ways to buy fresh produce due to the convenience and price advantages that these channels offer. Based on application Mushrooms are used in household, cosmetics, food and beverages, and pharmaceutical areas.
Geographically, Mushroom Market is studied across North America, Europe, Asia-Pacific, Latin America, Middle East & Africa. Asia Pacific has been the biggest in the Mushroom Market for the past few years and it will continue to grow in the years to come. Asia Pacific has 76.10% of the global market. Although Asia Pacific is projected to grow at the fastest rate over the forecast period.
Large companies operating in developed regions are increasingly emphasizing sustainable production to attract environmentally conscious customers and enhance brand status. The sustainability in businesses from compost preparation and growing to packaging is likely to become an important factor in the market in the coming years. Some major companies operating in the Global Mushroom Market are Bonduelle Group, Costa Group, CMP Mushroom, Drinkwater Mushrooms, Greenyard, Monaghan Group, Monterey Mushroom Inc, OKECHAMP S.A, Shanghai Fengke Biological Technology Co., Ltd, The Mushroom Company.